In light of certain risks revealed by the global financial crisis in some securitisation structures, additional risk information is required by the Prudential Authority (PA) to enhance the PA’s understanding of the risks in the South African securitisation market. The purpose of this proposed directive is to direct issuer special purpose institutions (SPIs) on the information required to be provided to the PA in terms of Directive 1 of 2012, dated 23 January 2012, and the declaration required to be provided to the PA. Furthermore, the proposed directive requires the auditor as appointed by the issuer SPI – as prescribed in paragraph 15(1)(a) of Government Notice No. 2 (the Securitisation Exemption Notice), published in Government Gazette No. 30628, dated 1 January 2008 – to include the verification of the information specified in Annexure A in the scope of work to be done as part of the annual auditing process. This proposed directive is intended to replace Directive 4 of 2017, dated 27 September 2017.